NOTE: The governor signed this measure on 5/24/2012.
      
      
      SENATE BILL 12-145
      
      
      BY SENATOR(S) Steadman, Hodge, Lambert, Aguilar, Boyd, Giron,
      Guzman, Hudak, Jahn, Newell, Schwartz, White, Williams S.;
      also REPRESENTATIVE(S) Becker, Gerou, Levy.
      
      
      Concerning a cap on the 2011-12 state fiscal year transfers to the
           state public school fund from public school land moneys.
      
      
      Be it enacted by the General Assembly of the State of Colorado:
      
           SECTION 1.  In Colorado Revised Statutes, 22-41-102, amend (3)
      (b) as follows:
      
           22-41-102.  Fund inviolate - repeal. (3) (b) (I) (A)  For the
      2011-12 state fiscal year, the first twenty-six million dollars of
      any interest or income earned on the investment of the moneys in
      the public school fund shall be credited to the state public school
      fund created in section 22-54-114 for distribution as provided by
      law. Any amount of such interest and income earned on the
      investment of the moneys in the public school fund in excess of
      twenty-six million dollars, other than interest and income
      credited to the public school capital construction assistance
      fund created in section 22-43.7-104 (1) pursuant to section
      22-43.7-104 (2) (b) (I) shall remain in the fund and shall become
      part of the principal of the fund.
      
           (B)  This subparagraph (I) is repealed, effective July 1, 2013.
      
           (II) (A)  For the 2008-09 state fiscal year through the 2012-13 state
      fiscal year, all interest or income earned on the investment of the moneys
      in the public school fund not credited to the public school capital
      construction assistance fund created in section 22-43.7-104 (1) pursuant to
      section 22-43.7-104 (2) (b) (I) shall be transferred to the state public school
      fund created in section 22-54-114.
      
           (B)  This subparagraph (II) is repealed, effective July 1, 2014.
      
           SECTION 2.  In Colorado Revised Statutes, 36-1-116, amend (1)
      (a) (II) (B) and (1) (c) as follows:
      
           36-1-116.  Disposition of rentals, royalties, and timber sale
      proceeds. (1) (a) (II) (B)  For the 2008-09 state fiscal year through the
      2012-13 state fiscal year, all proceeds received by the state for the sale of
      timber on public school lands, rental payments for the use and occupation
      of the surface of said lands, and rentals or lease payments for sand, gravel,
      clay, stone, coal, oil, gas, geothermal resources, gold, silver, or other
      minerals on said lands other than proceeds, rentals, and payments allocated
      to the state land board trust administration fund pursuant to section
      36-1-145 (3) or credited to the public school capital construction assistance
      fund created in section 22-43.7-104 (1), C.R.S., pursuant to section
      22-43.7-104 (2) (b) (I), C.R.S., shall be transferred to the state public school
      fund created in section 22-54-114, C.R.S.
      
           (c) (I)  For the 2011-12 state fiscal year, the first twenty-one
      million dollars of royalties and other payments for the depletion
      or extraction of a natural resource on public school lands in
      excess of the moneys credited to the state land board trust
      administration fund pursuant to section 36-1-145 (3), credited to
      the public school capital construction assistance fund created in
      section 22-43.7-104 (1), C.R.S., pursuant to section 22-43.7-104 (2) (b)
      (I), C.R.S., and credited as specified in subparagraph (II) of
      paragraph (b) of this subsection (1) shall be transferred to the
      state public school fund created in section 22-54-114, C.R.S. Any
      amount of royalties and other payments for the depletion or
      extraction of a natural resource on public school lands in excess
      of the amounts described in this subparagraph (I) shall be credited
      to the permanent school fund and shall become part of the
      principal of the permanent school fund.
      
           (II)  For the 2008-09 state fiscal year through the 2012-13 state fiscal
      year, royalties and other payments for the depletion or extraction of a
      natural resource on public school lands not allocated to the state land board
      trust administration fund pursuant to section 36-1-145 (3), not credited to
      the public school capital construction assistance fund created in section
      22-43.7-104 (1), C.R.S., pursuant to section 22-43.7-104 (2) (b) (I), C.R.S.,
      and not credited as specified in subparagraph (II) of paragraph (b) of this
      subsection (1) shall be transferred to the state public school fund created in
      section 22-54-114, C.R.S.
      
           SECTION 3.  Safety clause. The general assembly hereby finds,
      determines, and declares that this act is necessary for the immediate
      preservation of the public peace, health, and safety.
      
      
      
      
      ____________________________  ____________________________
      Brandon C. Shaffer                      Frank McNulty
      PRESIDENT OF                     SPEAKER OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
      
      
      ____________________________  ____________________________
      Cindi L. Markwell                      Marilyn Eddins
      SECRETARY OF                 CHIEF CLERK OF THE HOUSE
      THE SENATE                         OF REPRESENTATIVES
      
      
      
      
                  APPROVED________________________________________
      
      
      
      
      
                                    _________________________________________
                                    John W. Hickenlooper
                                    GOVERNOR OF THE STATE OF COLORADO